Palo Alto Networks stock rose 5% on upbeat guidance

Palo Alto Networks (PANW.US) – stock jumped almost 5% after the company posted better than expected quarterly figures. The cybersecurity company reported quarterly earnings of $1.62 per share, compared to analysts' expectations of $1.33 a share. Revenue also beat market forecasts.  "We delivered another consecutive strong quarter of solid results, with first quarter billings of 21% year-over-year growth; both our firewall transformation and our Next-Generation Security services continue to make great progress, giving us confidence to raise previously issued guidance for the year," said CEO Nikesh Arora. In the next quarter company expected revenue in the region of $975-990M compared to market estimates of $971.20M, billings of $1.17-1.19B, and EPS of $1.42-1.44 well above analysts' expectations of $1.35.

Palo Alto Networks (PANW.US) stock is testing the resistance at $274.57 where the all-time high is located. However a bearish divergence appeared on the MACD histogram, which might indicate that the upward momentum is fading away. Should sellers regain control then nearest support lies at $251.67 level. Source: xStation5